Cynosure Group LLC Trims Position in Terreno Realty Co. (NYSE:TRNO)

Cynosure Group LLC lessened its stake in Terreno Realty Co. (NYSE:TRNO) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,261 shares of the real estate investment trust’s stock after selling 1,126 shares during the period. Cynosure Group LLC’s holdings in Terreno Realty were worth $352,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Terreno Realty by 107.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 49,548 shares of the real estate investment trust’s stock worth $3,185,000 after purchasing an additional 25,683 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Terreno Realty by 292.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,712 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 8,728 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Terreno Realty in the second quarter valued at about $7,815,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Terreno Realty by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,893 shares of the real estate investment trust’s stock valued at $115,475,000 after acquiring an additional 315,506 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Terreno Realty by 30.7% during the first quarter. Tidal Investments LLC now owns 34,116 shares of the real estate investment trust’s stock worth $2,265,000 after acquiring an additional 8,013 shares during the period.

Terreno Realty Trading Up 1.3 %

Shares of Terreno Realty stock opened at $61.21 on Friday. Terreno Realty Co. has a 1 year low of $53.78 and a 1 year high of $71.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.71 and a quick ratio of 2.71. The business has a 50 day moving average price of $63.08 and a 200 day moving average price of $63.28. The company has a market capitalization of $6.11 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.82 and a beta of 0.90.

Terreno Realty (NYSE:TRNO) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.24). The company had revenue of $99.64 million during the quarter, compared to analyst estimates of $96.31 million. Terreno Realty had a return on equity of 4.94% and a net margin of 45.37%. Sell-side analysts anticipate that Terreno Realty Co. will post 2.41 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.96 annualized dividend and a dividend yield of 3.20%. Terreno Realty’s dividend payout ratio is currently 107.69%.

Wall Street Analysts Forecast Growth

TRNO has been the topic of a number of analyst reports. Wells Fargo & Company lowered Terreno Realty from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $71.00 to $75.00 in a report on Wednesday, August 28th. Mizuho reaffirmed an “underperform” rating and set a $62.00 price objective on shares of Terreno Realty in a report on Thursday, September 5th. The Goldman Sachs Group raised their target price on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank decreased their target price on shares of Terreno Realty from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, October 25th. Finally, Wolfe Research upgraded shares of Terreno Realty to a “hold” rating in a report on Sunday, September 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $69.22.

Terreno Realty Company Profile

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.